International derivatives marketplace CME Group Inc. (NASDAQ:CME) today reported financial results for the first quarter of 2022.
The company reported revenue of $1.3 billion and operating income of $859 million for the first quarter of 2022. Net income was $711 million and diluted earnings per share were $1.95. On an adjusted basis, net income was $766 million and diluted earnings per share were $2.11.
These results compare with revenue of $1.25 billion and operating income of $725 million registered in the first quarter of 2021.
First-quarter 2022 average daily volume (ADV) was 25.9 million contracts, including non-U.S. ADV of 7.3 million contracts, led by 28% growth in Latin America, 22% in Asia and 17% in EMEA.
Clearing and transaction fees revenue for first-quarter 2022 totaled $1.1 billion. The total average rate per contract was $0.644. Market data revenue totaled $152 million for first-quarter 2022.
As of March 31, 2022, the company had approximately $2.1 billion in cash (including $100 million deposited with Fixed Income Clearing Corporation (FICC) and included in other current assets) and $3.4 billion of debt. The company paid dividends during the first quarter of $1.5 billion, which included the annual variable dividend for 2021 of $1.2 billion. The company has returned approximately $18 billion to shareholders in the form of dividends since the implementation of the variable dividend policy in early 2012.
“During this period of extreme geopolitical and economic uncertainty, our continued focus on helping clients manage their risk resulted in strong earnings and revenue growth during the first quarter,” said CME Group Chairman and Chief Executive Officer Terry Duffy.
“Average daily volume was robust with double-digit increases in equity index, interest rate and options products, as well as significant volume outside the U.S. In addition, we are pleased with the accelerated growth of our SOFR futures and options since the start of the year, including record quarterly volume and open interest. Looking ahead, we will continue to provide the benchmark products, services and data our clients need as they continue to navigate through evolving central bank policies, inflation, supply chain constraints and other economic challenges.”